East Hyderabad Drives Real Estate Growth
Hyderabad: The State government’s efforts to decongest Hyderabad by promoting growth in all directions of the city are yielding positive results, with a noticeable shift in real estate dynamics. The ambitious Look East Policy (LEAP) led by MA&UD Minister KT Rama Rao is now turning into reality, as East Hyderabad emerges as the new engine of growth for real estate investors.
East Hyderabad’s proximity to the IT hub, housing prominent companies like Tech Mahindra and TCS, makes it an attractive destination for investors. The area’s appeal extends beyond IT, with several pharma companies also establishing a presence there. The government’s development plans covering 14,000 acres in Phase 1 and an additional 5,000 acres in Phase 2 are expected to generate around 3.5 lakh jobs, further boosting the real estate market.
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According to No Broker, a real estate platform, there has been a significant increase of about 91 per cent in buyers looking to purchase properties in East Hyderabad during 2023 compared to the previous year. Over 50 new projects have been recently launched in the top localities like Uppal, Nagole, LB Nagar, and Pocharam, cementing this part of the city as a real estate hotspot.
oreover, high net-worth individuals (HNIs) are expressing keen interest in commercial properties in these locations. No Broker reported an 80 per cent surge in queries related to commercial properties from HNIs during FY23 compared to the previous year. These investors are primarily interested in multi-purpose commercial buildings that can accommodate small offices, clinics, showrooms, and restaurants.
The surge in demand for properties in East Hyderabad is driven by a mix of interested buyers. Investors are recognizing the region’s investment potential, while first-time buyers are attracted to its affordable cost of living and excellent connectivity compared to other parts of the city.
One of the key advantages driving the growth in East Hyderabad is its high occupancy rates, with No Broker estimating an occupancy rate of around 85 per cent.
This indicates the area’s attractiveness as both a residential and commercial destination, with people actively seeking to live and work in the region.